Cargill says the 2018 fiscal year ended May 31 proved to be one of its best, with animal nutrition and protein providing the biggest input in the company's total $3.2 billion in adjusted operating earnings. The company finished strong in the fourth quarter, boasting a 76 percent jump in adjusted operating earnings from $460 million a year earlier to $809 million. Revenues grew 7 percent for the quarter, to $30.4 billion, and 5 percent for the year, to $114.7 billion. “Our strong results show we are creating the connections the world needs for vibrant food and agriculture both today and tomorrow,” said David MacLennan, Cargill’s chairman and chief executive officer. “And we are standing up for inclusive global trade that lets food move freely.” During the year, Cargill invested significantly to serve growing demand for protein. It acquired a poultry business in Colombia, formed a fresh poultry venture in the U.K. and opened a poultry processing plant in the Philippines. In the U.S., Cargill expanded facilities for fresh ground beef, cooked meat and cooked eggs. In animal nutrition, Cargill acquired U.S.-based Diamond V, invested in Austria-based Delacon and Brazil's Integral Animal Nutrition. On Aug. 7, Cargill will release its annual report detailing how the company is strengthening global food and agriculture for sustainable, long-term success.
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